We have had the absolute pleasure of seeing Jared James for Live events this year and so much has resonated with how we have been programmed to run our business. It seems year after year when we do our business planning with measuring and tracking, the majority of our business comes from referrals and repeat businesses but when we look deeper into what we are actually doing to focus on the post close… it is a very small fraction compared to the amount of money spent on trying to find new people for your business! Why is this?
Jared had some fantastic slides on how the “big companies” are swallowing up the area as well so we are heavily competing in this space (Awareness, interest, consideration, etc)... you know the space if you have ever done a generic search on Google or are trying to beef up your SEO to get on the first page for results “organically” with generic terms). We have been running PPC Ads for 10 years and do reports monthly and this space has drastically changed. So why do we focus so much on trying to find people who don’t even know us to work with us? The time we have to spend in this heavily saturated area to get someone to “Know, Like & Trust Us” is crazy!
How much effort are you putting into the “After the Sale”? Into the people you enjoyed working with? The ones who already know, like & trust you? What if someone told you these people have a tag of $117k EACH? Would you put a little more effort into the post sale? It is unique to you (and the cooperating agent) and the big companies aren’t invading that space. You have the relationship! It's up to you on what you will do with it after the sale!
Think about the Experience of working with you! What is this like during the process?
Think of places you go that have “perks” to membership. For example, I fly Allegiant all the time and having a simple CC allows me to automatically upgrade to Priority and I get a free drink flight! It seems stupid simple right?
Some interesting Facts:
People who use an agent they know are growing!
NAR 2019: 71%
NAR 2017: 69%
NAR 2014: 65%
NAR 2011: 66%
Found agents from a website or the internet is decreasing!
2019 3%
2017 4%,
2014 5%
2011 4%
Here are some great takeaway ideas we hope you start implementing today!
Client Loyalty Program
Simple Yearly Gift Cards - In your CRM, you should have notes from working with them. What are their favorite places to dine? Favorite wines? Do they have pets and favorite groomers? Make sure to write notes about the clients, this will be perfect for sending gift cards. (We recommend having your database with people marked at different levels, for example, maybe some past clients have repeatedly referred you, they may go into a higher tier for a higher level gift).
Home Value Assessment - In this crazy market, you should be doing this right NOW! Like sending 5 a week to your past clients until you have sent to everyone! Do a quick CMA and a personal note and to let them know you are there if they have any questions on their property!
Pop Bys throughout the year - There is nothing new about the ever popular Pop Bys throughout the year! Get creative and have fun with them!